The International Finance Corporation (IFC), part of the World Bank Group, will assist in drafting an intergovernmental agreement between Montenegro and the United Arab Emirates (UAE) in the field of energy, and will provide both technical and financial support for all jointly agreed projects. These include initiatives in tourism, energy, data centers and infrastructure, announced Montenegrin Prime Minister Milojko Spajić during his working visit to Washington.
Spajić emphasized that the UAE is also interested in public-private partnerships for the continuation of Montenegro’s highway construction. He noted that, after five years of stagnation, the country expects a final decision on airport concessions. “Montenegro no longer has time to wait,” Spajić stated on Facebook.
IFC Managing Director Makhtar Diop expressed full support for the implementation of all bilateral agreements between Montenegro and the UAE, saying that IFC is ready to provide both financing and technical expertise. Diop welcomed Spajić’s invitation to visit Montenegro.
Highlighting the importance of renewable energy, Spajić said the partnership with the UAE — a global leader in the field, currently investing billions of euros — could significantly benefit Montenegro’s energy sector and citizens. Diop confirmed IFC’s readiness to help structure and finance such projects.
He also noted that the UAE has become a major global economic player, and informed the Prime Minister that the new IFC Vice President for Central Asia will be based in Dubai, further underlining the strategic importance of the region.
During the meeting, Prime Minister Spajić outlined Montenegro’s key infrastructure projects, especially the next phases of highway development. Diop responded positively, reaffirming IFC’s willingness to partner with Montenegro through public-private models. “We see real potential in Montenegro and in your vision. We want to be part of the positive change. You can count on our support,” he told Spajić.
The discussion also addressed the long-delayed airport concession process. After years of inaction by previous governments, Spajić emphasized the urgent need for a decision, calling airport modernization a bottleneck for tourism and economic growth.
The meeting was attended by Montenegro’s Finance Minister Novica Vuković and the country’s Ambassador to the United States, Jovan Mirković.
